Relates to fixing a maximum interest rate for credit cards issued or used in this state

This bill caps the maximum interest rate for personal credit cards issued or used in New York State at 10% per year. It directly affects New York residents who use credit cards for personal, family, or household expenses, making any rate above 10% invalid. The law amends banking law to set this 10% limit and prohibits using credit cards with higher rates, allowing the attorney general to seek court action against violations. The bill takes effect immediately but expires and reverts to previous law after five years.